CVS Health Corp (CVS)

CVS Health Corporation provides health solutions in the United States. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services, including medical, pharmacy, dental, and behavioral health plans; medical management capabilities; Medicare Advantage and Medicare Supplement plans; prescription drug plans (PDPs); and Medicaid health care management services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. The Health Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, specialty and mail-order pharmacy, clinical services, disease management, medical spend management services, and pharmacy and other administrative services. It serves employers, insurance companies, unions, government employee groups, health plans, PDPs, Medicaid managed care plans, CMS, plans offered on public health insurance exchanges, and other sponsors of health benefit plans. The Pharmacy & Consumer Wellness segment sells prescription and over-the-counter drugs, consumer health and beauty products, personal care products, and other general merchandise products. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. It operates online retail pharmacy websites, retail specialty pharmacy stores, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1963 and is headquartered in Woonsocket, Rhode Island.

Symbol
CVS
Exchange
NYSE
Sector
Healthcare
Industry
Healthcare Plans
Market cap
$109.23B
52 week range
69.51 - 110.68

Valuation

Share price
$85.20 (close of 2026-10-01)
P/E (TTM)
22.37x
Price to book
1.37x
Price to free cash flow
9.29x
Enterprise value
$171.58B
Book value per share
$62.52

Price performance

PeriodChange
1 day-0.57%
5 days+0.18%
1 month-12.70%
3 months-18.71%
6 months+17.53%
Year to date+7.36%
1 year+10.84%
3 years+22.03%
5 years+1.34%
10 years-4.26%
All time+5126.99%

Members of Congress who disclosed CVS trades

Lisa McClain · Dwight Evans · Julie Johnson · Robert Bresnahan · Val Hoyle · Adam Smith · Alan Armstrong · French Hill · Gilbert Ray Cisneros · Jefferson Shreve · John Boozman · Tommy Tuberville

Super investors holding CVS

Dodge & Cox (Dodge & Cox Funds) · Christopher Davis (Davis Selected Advisers) · Richard Pzena (Pzena Investment Management) · Prem Watsa (Fairfax Financial Holdings) · Samantha McLemore (Patient Capital Management, LLC) · Hillman Capital (Hillman Capital Management, Inc)

Profitability and growth

Return on equity
2.35%
Return on invested capital
2.94%
Return on assets
0.70%
Return on capital employed
2.83%
Gross margin
44.99%
Net margin
0.44%
EBITDA margin
2.30%
Revenue growth
7.85%
Net income growth
-61.68%
Free cash flow growth
23.41%

Cash flow and balance sheet

Free cash flow yield (TTM)
10.76%
Current ratio
0.87x
Net debt to EBITDA
4.65x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$402.07B
Cost of revenue
$221.17B
Gross profit
$180.90B
EBITDA
$9.27B
Net income
$1.77B
Earnings per share
$1.40
Shares outstanding
1.27B

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$402.07B$180.90B$1.77B$1.40
2024-12-31$372.81B$166.52B$4.61B$3.67
2023-12-31$357.78B$140.68B$8.34B$6.49
2022-12-31$322.47B$125.58B$4.31B$3.29
2021-12-31$292.11B$116.31B$8.00B$6.07
2020-12-31$268.71B$104.72B$7.18B$5.48
2019-12-31$256.78B$98.06B$6.63B$5.10
2018-12-31$193.92B$37.47B-$594.00M$-0.57
2017-12-31$184.76B$28.55B$6.62B$6.47
2016-12-31$177.53B$28.86B$5.32B$4.93

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3144.99%0.44%2.35%2.94%
2024-12-3144.67%1.24%6.09%4.71%
2023-12-3139.32%2.33%10.89%7.57%
2022-12-3138.94%1.34%6.01%5.08%
2021-12-3139.82%2.74%10.69%12.90%
2020-12-3138.97%2.67%10.30%14.12%
2019-12-3138.19%2.58%10.34%11.84%
2018-12-3119.32%-0.31%-1.01%1.59%
2017-12-3115.45%3.58%17.57%12.76%
2016-12-3116.26%3.00%14.44%11.97%

Cash and debt by year

Period endCashDebt
2025-12-31$10.60B-
2024-12-31$10.99B-
2023-12-31$11.46B-
2022-12-31$15.72B-
2021-12-31$12.53B-
2020-12-31$10.85B-
2019-12-31$8.06B-
2019-01-01$6.58B$71.35B
2018-12-31$6.58B$71.44B
2017-12-31$1.81B$22.18B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$7.81B$535.00M
2024-12-31$6.33B$540.00M
2023-12-31$10.39B$588.00M
2022-12-31$13.45B$447.00M
2021-12-31$15.74B$484.00M
2020-12-31$13.43B$400.00M
2019-12-31$10.39B$453.00M
2018-12-31$6.83B$280.00M
2017-12-31$6.09B$234.00M
2016-12-31$7.92B$222.00M

Dividend history

Most recent payment
2026-07-23
Paid in the last twelve months
$2.66
Payment dateDividend per share
2026-07-23$0.67
2026-04-23$0.67
2026-01-22$0.67
2025-10-23$0.67
2025-07-22$0.67
2025-04-22$0.67
2025-01-23$0.67
2024-10-21$0.67

Investor relations

Next earnings report

Next confirmed report
2026-11-04
Consensus EPS estimate
$1.62

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-05Jun/2026$1.87
2026-05-06--
2026-02-10--
2025-10-29--
2025-07-31--
2025-05-01--
2025-04-29--
2025-02-12--

Filings and sources

Company website
cvshealth.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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